Follow these six points to ensure 100% profitability

1: Learn to take profits and cut losses

The market changes rapidly; you must learn to take profits and cut losses. This may sound difficult, but it’s not. Taking profits controls your greed. A cryptocurrency won’t rise indefinitely or fall continuously; there are cycles. Therefore, taking profits becomes especially important. Don’t always worry about closing too early and missing out on future profits! You must remember that money in the crypto world is never-ending, but the money in your account can run out. Cutting losses means giving up on sunk costs, which can also be difficult. Don’t always think that by holding on a little longer, the market will reverse in the next second. Never think this way. If you’re wrong, you’re wrong. Take the hit standing straight; though losing a limb to survive hurts, it can truly save your life.

2: Do not trade frequently

A big taboo: Do not always think about making profits from both sides? Wake up! Very few people can do this. Being able to profit from one side is enough. Another point is the transaction fees; low leverage is fine, but high leverage can be painful. When you open a position, you lose 1-2 points of profit immediately. You must ensure that this trade can make money; otherwise, it’s meaningless. All your profits will just go to the market makers as fees!

3: Learn to stay on the sidelines

When you don’t understand the market, don’t blindly open positions. Not understanding the market and not accurately grasping the direction is no different from gambling! Trading relies on a probability advantage. No one can accurately predict whether it will rise or fall; the market changes too quickly. You can only say that there is a high probability of rising or falling.

4: Progress gradually

Don’t always think you can become a big shot in one go. The crypto market won’t make you rich overnight. For example, if you use a capital of 100 and go long with 10x leverage, your position is 1000. If it rises by one point, you earn 10 dollars; if it rises by two points, that’s 20 dollars in your pocket, enough for a breakfast. Nowadays, working in a factory earns about 15 dollars an hour. If you place three or four trades a day with a win rate of 60-70%, it’s more comfortable than working in a factory.

5: Avoid heavy betting

Absolutely, do not heavily bet. If something unexpected happens, you could lose everything. For example, if the market is expected to rise and suddenly a major news event causes it to plummet, and you haven’t set a stop loss, you’re done for! Therefore, don’t rush; always trade lightly and focus on stability. The crypto market is abundant with trends and opportunities, and it will always be there; at least for the next 10-20 years. So don’t be deceived by immediate illusions! $ETH